Lucid Motors raised $550 million in a Series C convertible preferred stock placement with Saudi Arabia’s PIF. The deal increased PIF's stake in Lucid to 56.85%.
Amount Raised
$550 Million
Round Type
Series C
NewarkManufacturingManufacturingEnergyTransportationAutomotiveAutomotiveAutomotiveElectric VehicleInvestors
Description
Lucid Motors disclosed a $550 million Series C convertible preferred stock placement with Saudi Arabia’s Public Investment Fund (PIF), carrying a 9% PIK dividend. The closing on April 28, 2026, raised PIF's ownership to 56.85% of Lucid. This funding adds to PIF's substantial commitment to Lucid since 2018.
Quick answer
Lucid Group raised $550 Million in a Series C round, dated May 1, 2026. Investors: Public Investment Fund and Ayar Third Investment Company. Lucid Group is based in Newark, California, United States.
- How much did Lucid Group raise?
- Lucid Group raised $550 Million in a Series C round on May 1, 2026.
- Who invested in Lucid Group?
- Public Investment Fund and Ayar Third Investment Company are named as investors in this round.
- What does Lucid Group do?
- Lucid's mission is to inspire the adoption of sustainable energy by creating advanced technologies and the most captivating luxury electric vehicles centered around the human experience.
- Where is Lucid Group based and how big is it?
- Lucid Group is based in Newark, California, United States. Fundz records about 6,800 employees.
- Who are the decision-makers at Lucid Group?
- Fundz holds 5 contacts at Lucid Group, including the Talent Acquisition Leader. Names and contact details are shown to Fundz members.
Source: Fundz verified event record.
Who else raised in Energy and Transportation around the same time
Companies in the same sectors as Lucid Group that raised within 45 days of this round, from Fundz verified event records.
- Rivian Automotive raised $300M (Corporate Round) on May 4, 2026.
- ElectriQ Solutions Private Limited raised an undisclosed amount (Seed) on June 15, 2026.
- Spiro raised $215M (Funding Round) on June 1, 2026.
- Simple Energy raised $26M (Debt Financing) on June 1, 2026.
- ZERON raised $200M (Series B) on May 26, 2026.
- Vision Marine Technologies raised $4M (Debt Financing) on May 6, 2026.
Who to call at Lucid Group, and when
A new round usually means Lucid Group is about to hire and buy. The teams that reach out first get the meeting.
- An alert the day Lucid Group raises, hires an executive or expands, scored against what you sell
- The decision-makers there, with verified emails
- Who you already know at Lucid Group, from your own LinkedIn network
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Related People
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